All articles by Pirkko Juntunen – Page 8
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NewsIlmarinen, OP Henkivakuutus take over management of Finland's Alko
FINLAND – The pension fund for Finland's Alko, the state-owned alcoholic beverage retailer, has transferred the management of its statutory and supplementary pension provision to two insurance companies.
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News
Swedish roundup: SPP, Storebrand, SEB
SWEDEN – Swedish insurer SPP lost SEK206m (€21.7m) in the second quarter, while SPP’s parent, Storebrand, lost NOK39m (€4.8m). Meanwhile, operating profit at SEB Trygg Liv came to SEK349m over the same period.
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NewsNordic roundup: Finanstilsynet, KPA, ITP, AP3
EUROPE – Norway's regulator, Finanstilsynet, has lifted a ban on hedge fund sales and marketing to institutional investors in the country.
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Features
Pension funds – future farmers
Pirkko Juntunen records the growing popularity of farmland investment in the developing world
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NewsDanish pension funds take on Spain over solar tariffs
DENMARK – AP Pension, PensionDanmark and PBU, three Danish pension providers with assets totaling €30bn, have written to the Spanish government and the EU Climate Action Commissioner voicing their concerns about Spain changing the tariffs for its solar power industry retroactively.
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NewsSwedish roundup: Swedish Match, Brummer & Partners, Inpension, Söderberg & Partners
SWEDEN – Swedish Match, the tobacco company, has decided to close its pension funds PSA and PSF and transfer assets and risk to Alecta, AMF and Folksam in a move that is thought to be the first of its kind in Sweden.
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NewsSwedish roundup: Svenskt Näringsliv, SPP Livförsäkring, Pensionsmyndigheten
SWEDEN – Svenskt Näringsliv, a Swedish employer confederation, is suing SPP Livförsäkring, a life and pensions provider, over its failure to index insurance contracts and pay a pension supplement to the confederation's members.
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News
Nordic roundup: ITP, AP7, AP fund boards, PensionDanmark
SWEDEN – More than 98,000 privately employed Swedes (41%) have already made their selection for their supplementary occupational pension provision, ITP, according to Collectum, the administrator.
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News
Swedish roundup: Pioneer, fee structures, Max Matthiessen, Länsförsäkringar Liv
SWEDEN – Mats Langensjö, the head of Nordic institutional business at Pioneer Investments, is leaving the company as a result of a change in focus away from the defined contribution (DC) pension sector.
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Country Report
Egypt: Towards reform
Egypt is to supplement its €42bn of social security reserves with a new defined contribution system that has been developed in partnership with the World Bank. The Egyptian deputy minister for finance, Dr Mohammed Maait, told Pirkko Juntunen about the planned new system
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News
Swedish government criticises long-term returns of AP funds
SWEDEN - In its annual evaluation of the AP funds the Swedish government has expressed dissatisfaction with their long-term performance, despite 2009 providing the best returns since inception 2001.
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News
Swedish roundup: AP fund board changes, AP1
SWEDEN - Four of the Swedish AP pension funds have reported changes to their boards, while AP1 is seeking a new custodian.
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News
Industriens gains 15.4% on stocks but uncertainty looms
DENMARK – Industriens Pension, the pension fund for the industrial sector in Denmark, benefited from a 15.4% return on Danish stocks in the first quarter of 2010, with its global equities portfolio delivering half that (7.7%) in total.
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NewsSwedish roundup: AP7, Länsförsäkringar
SWEDEN – Swedish national buffer fund AP7 is cooperating with United Nations Environment Programme Financial Initiative (UNEP FI) and Ethix SRI Advisors to bulld guidelines on tar sands, while Länsförsäkringar has aborted plans to demutualise.
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News
Swedish roundup: KPA, Folksam, Länsförsäkringar, SIFA
SWEDEN - Swedish pension providers have continued to show positive numbers for the first quarter.
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News
Norway reduces drawdown of oil funds as economy improves
NORWAY – In a revision of Norway's fiscal budget for 2010 the government proposes to reduce the use of petroleum revenues by NOK17bn (€2.18bn) compared to the approved budget as economic activity has picked up.
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News
Norway’s occupational DB schemes given more time to reform
NORWAY - Defined benefit (DB) occupational pension structures in Norway will be allowed to operate in accordance with existing rules beyond 1 January 2011 when the new legislation for the state old-age pension comes into force.
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NewsSwedish roundup: AP7, solvency levels, Q1 performance, AMF survey
SWEDEN – AP7, the national buffer fund with a mandate to manage assets within the Swedish premium pension system (PPM), will close its premium choice (Premievalsfonden) and default (Premiesparfonden) funds this month and begin managing two new low-cost equity and fixed income funds.
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NewsAP6 chief executive steps down
SWEDEN – Erling Gustafsson, chief executive of the Swedish national buffer fund AP6, is stepping down from his role after 10 years.
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News
Swedish and Norwegian business boosts Danica pension premiums
NORDICS – Danica benefited from increased pension premiums in Sweden and Norway during the first quarter, while posting positive returns across its pension products.
